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271ExplorationConocoPhillips exits UK oil and gas production in huge $2.7 billion North Sea sale
By Tom DiChristopher – CNBC News — ConocoPhillips on Thursday announced it has struck an agreement to sell its UK oil and gas...
247ProductionU.S. super-light oil output rise roils Texas, Oklahoma markets
NEW YORK/HOUSTON (Reuters) – Growing production of Texas super-light oil – and worries about its quality compared with other types of crude...
2.2KRig CountWeekly Rig Count Update: April 12, 2019
Stay updated on oil and gas stories, prices and the weekly rig count. Sign up for our Weekly Newsletter HERE. The number...
568ExplorationChevron to buy Anadarko Petroleum in a $33 billion cash and stock deal
CNBC —Chevron announced plans Friday to acquire oil and gas exploration and production company Anadarko Petroleum in a cash and stock deal valued at $33...
263InvestingHow Trafigura Lost $254 Million On Oil, Gas Hedges
LONDON (Reuters) – One of the world’s biggest traders, Trafigura, booked a $254 million loss from oil and gas market hedges last year, highlighting the challenges traders...
422Exploration‘Really Smart Guys’ Push to Make Biggest Oil field Even Bigger
By Javier Blas —Bloomberg — Standing at the center of the prolific Permian Basin, Scott Hodges explains how the future of the world’s...
317ExplorationAfter 70% Crash in Stocks, Some Frack-Sand Miners Are Desperate
(Bloomberg) — For the last six years, Kevin Bowen has made good money selling sand to shale frackers who use it for...
489ProductionPermian Basin natural gas prices at negative all-time lows – Reuters
(Reuters) – Next-day natural gas prices for Wednesday at the Waha hub in West Texas plunged to record negative levels as a...
371ExplorationRoswell company acquires Lea County energy lease
Roswell Daily Record — A Roswell energy development company has paid almost $400,000 for an oil and gas lease in Lea County,...
434ProductionPottawatomie County 1921
Pottawatomie County is a county located in the U.S. state of Oklahoma. As of the 2010 census, the population was 69,442. Its county seat is Shawnee. Pottawatomie County was carved out of land...
Snippets
- Costly Saudi defences prove no match for drones, cruise missilesRIYADH/DUBAI, Sept 17 (Reuters) - Billions of dollars spent by Saudi Arabia on cutting edge Western military...RIYADH/DUBAI, Sept 17 (Reuters) - Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry.Read More
Saturday's assault on Saudi oil facilities that halved production has exposed how ill-prepared the Gulf state is to defend itself despite repeated attacks on vital assets during its four-and-a-half year foray into the war in neighboring Yemen.
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- Pioneer, Chevron Call On Industry, Others To Tackle Permian Basin FlaringFrom Hart Energy - Pressure by state officials on oil producers and pipeline companies...From Hart Energy - Pressure by state officials on oil producers and pipeline companies is likely needed to address the flaring problem in the Permian Basin, the head of a large Permian pure-play company said.Read More
Though natural gas pipelines providing additional takeaway capacity are welcomed, low natural gas prices, pipeline takeaway commitments and other economic factors remain an issue when it comes to flaring of gas, according to Pioneer Natural Resources Co. CEO Scott Sheffield.
“That’s the biggest issue we have to solve with the producers and with the pipeline companies,” Sheffield said during a recent Permian-focused event hosted by the Center for Strategic & International Studies. “And the states probably need to do a better job of putting more pressure on both groups of people, in my opinion, to solve that problem.”
Full Story - Subscription Required - Oil prices sink on report Saudi output will recover quickly MarketWatch Report: Oil futures dropped sharply on Tuesday, after registering one of...MarketWatch Report: Oil futures dropped sharply on Tuesday, after registering one of the sharpest rallies on record a day earlier, following a report that output from Saudi Arabia will be quick to recover from weekend attacks on major crude facilities which disabled more than half of the kingdom’s daily crude production level.Read More
The Saudis are close to restoring 70% of the 5.7 million barrels per day production lost after the attacks, Reuters reported, citing a top Saudi source briefed on the latest developments. The source also said output will be fully back online in the next two to three weeks.
West Texas Intermediate crude for October delivery CLV19, the U.S. benchmark contract, was down $3.78, or 6.07%, at $59.08 a barrel at 11 AM ET, after the largest daily gain for the most-active contract since Sept. 22, 2008, according to Dow Jones Market Data. WTI finished Monday’s session at its loftiest level since May 21, 2019. - Tulsa's SemGroup to be bought by Energy Transfer PartnersTULSA — Investors rushed to acquire SemGroup Corp. shares on Monday after it and Energy Transfer LP...TULSA — Investors rushed to acquire SemGroup Corp. shares on Monday after it and Energy Transfer LP announced a stock and cash merger transaction valued at about $5.1 billion before markets opened.Read More
The value of a SemGroup unit climbed by $6.22 to $16.50, up about 61% on the day.
The proposed deal, already unanimously approved by both boards, would give SemGroup unit holders $6.80 per unit, plus 0.7275 of an Energy Transfer unit — a cash and equity deal that values SemGroup at $17 a unit.
Read Full Story - US oil prices had their biggest spike in a decade after Saudi attack disrupts global supplyCNN - Oil prices spiked Monday after a devastating attack on the heart of Saudi Arabian oil production...CNN - Oil prices spiked Monday after a devastating attack on the heart of Saudi Arabian oil production over the weekend shocked markets and could disrupt the global supply of crude for some time.Read More
US oil futures jumped 14.7%, settling at $62.90 a barrel. It was the biggest spike since January 2009. Futures of Brent crude, the global benchmark, settled up 14.6% at $69.02 a barrel.
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1.0KExplorationHe Paid $1.50 an Acre for Barren Texas Land Now Worth $7 Billion
By Austin Weinstein – Bloomberg – So much of the Texas land in the...
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456ExplorationConcho Resources to sell strip of New Mexico assets for $925 million
(Reuters) – U.S. oil and gas producer Concho Resources Inc said on Tuesday it...
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343ExplorationAnalysis: SCOOP/STACK operators scale back rig activity by 40% so far in 2019
Denver — Operators in Oklahoma’s SCOOP/STACK, once one of the hottest US onshore plays outside...
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260ExplorationExxon Mobil Eyes Oil M&A as Clean Energy Shift Seen Taking Decades
By Kevin Crowley – Bloomberg – Exxon Mobil Corp. Chief Executive Officer Darren Woods is eyeing...
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239ExplorationT. Boone Pickens, larger-than-life energy tycoon and Oklahoma State benefactor, dies at 91
By Cheryl Hall – Dallas Morning News – T. Boone Pickens, legendary energy executive, philanthropist, ardent...
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198Oil & Gas NewsU.S. shale firms cut budgets, staff as oil-price outlook dims
ODESSA, Texas (Reuters) – Oil producers and their suppliers are cutting budgets, staffs and...
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191InvestingSaudi Arabia is dramatically changing its oil exports to China and the US
Natasha Turak – CNBC – Saudi Arabia has seriously ramped up its oil exports...
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102ExplorationGE to lose majority control of Baker Hughes with up to $3 billion share sale
(Reuters) – General Electric is looking to raise up to $3 billion in sale of...
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74InvestingSaudi stock market dives, crude futures to jump after drone attack on oil plants
PUBLISHED SUN, SEP 15 2019 Natasha Turak@NATASHATURAK – CNBC KEY POINTS Saudi Arabia’s stock...
